Whether you are on vacation, schooling, or working in Norway, you may be thinking about the possibility of using a credit card. Of course, it will be nice to get one since you won’t need to move around with bulk money. Also, you may not face the problem of running out of funds.
But if you’re still skeptical about using a kredittkort in Norway, it’s probably because you’re still not sure whether it’s a good idea or not. Well, this article aims at helping you discover the importance of using credit cards. If you are new to credit cards, you can visit kredittkortinfo.no/ to check which one will be ideal for you.
What Do You Stand to Gain from Using a Kredittkort (Credit Card)?
Below are some advantages of using a credit card in Norway.
Access to Bonuses
Most people find credit cards attractive because of the bonuses they will receive. These bonuses do not apply to every applicant. The financial institution issuing the card will review your credit score before you can qualify for a one-time bonus when the card is issued to you.
While credit scores are held in high esteem, they are not the only criteria for getting bonuses. Different banks have different terms and conditions. Therefore, if you want to enjoy bonuses, you should find out the requirements from the bank you choose.
Researching on your own will not only help you to learn about the exact requirements but also how the bonus works. Also, you will be able to choose the particular kredittkort that will fetch you a desirable bonus.
Receive Reward Points for Spending Money
When you spend money, you don’t get it back. But when you use your credit card, you will earn reward points. You can exchange these points for various products and services such as hotel accommodation, restaurant services, groceries, clothes, and gasoline.
You can also exchange them for travel tickets and gift cards depending on the number of points you accumulate. You may wonder whether these rewards and points differ from one issuer to another. Well, they differ from one issuer to the other and what you get depends on your shopping habits.
Manage Your Finances Better
Some people tend to overspend when they shop with physical cash. Sometimes, they can’t trace what they spent money on and how all the funds went away so quickly. If this looks like you or if you’ve not had success with living on a budget, then getting a credit card will do you so much good. A kredittkort can help you to properly manage your funds. At least, you will know where you spent each dime.
Also, you will get statements every month that will help you understand your spending habit and the areas you should change. If you really want to save money, it will be good for you to start getting monthly statements. These will help you to realize which costs you need to reduce or cut off entirely.
By the next month, you will realize how little you have spent compared to other months. This is enough to motivate you to keep saving. In addition to saving, yearly reports are important for calculating taxes. This is an important aspect of managing funds.
Enjoy a Grace Period
Most persons will find this appealing because when using your card, you are not expected to make payments immediately. You are given some time before the end of the month to make payment. However, this grace period varies depending on the financial institution. Additionally, you won’t be required to pay interest except you exceed your grace period.
Protection From Fraud
This is one of the major benefits of using credit cards. If you notice fraudulent activities on your card and alert your card issuer, you won’t be responsible for the loss. Your issuer will define your responsibility in a case of fraud. Usually, you may only be required to pay $50. You can visit this website to find out what to do if you suspect your account has been compromised.
How to Secure Your Credit Card
There are various ways your credit card may be exposed to scammers. But you can stop scammers from accessing it by creating some barriers and making it difficult for people to see your card numbers. Your credit card is like physical cash, so you must be very careful when handling it. Here’s how fraud happens on your card:
High-tech hackers and low-tech dumps can steal your information. A thief can search for discarded statements in dumpsters. As soon as they get hold of it, they will use it to make purchases.
Also, a bank or retail website may get hacked. If you have an account in that bank or have previously transacted with that retailer, their website will contain your details. The hacker can access your details when they hack the website, then sell your data to fraudsters.
Furthermore, a dishonest waiter or clerk may take pictures of customers’ credit cards, and then use their accounts to open other accounts or make purchases. Sometimes, you may receive a call from scammers saying you can enjoy free trips or discounts on travel tickets. They will ask you to provide your account information to secure your slot.
If you are gullible, you may believe them and jump on the package. After revealing your details, you will start receiving notifications of transactions that you did not make. What is more annoying is that you won’t be able to trace the phone number of the scammers.
But you can do something to protect yourself and your money from fraud. You can incorporate some security habits into your routine. For instance, you can keep a handy record of account numbers, expiration dates of cards, and the phone number you can use to report any fraudulent activity on your account.
Also, do not give your cards to anyone, whether your roommate, colleague, or kids. Do not leave your statements, cards, or receipts around the office or home. And when you do not need them anymore, ensure you shred them to pieces before discarding them.
Other ways to protect yourself from fraud are:
- Do not place your cards in your wallet; place them differently. If a thief takes your purse or wallet, your losses will be minimal. Also, when going on a date, party, or any event, do not go with your card except you already know that you will use it.
- If you want to travel or change your address, ensure you notify your issuer.
- Stay alert during transactions and take back your card immediately after the transactions are complete. Do not leave it with the waiter or clerk.
- Do not call out account numbers over the phone when people are present. Also, ensure the person you are speaking to is reliable. If it is a company, do well to read online reviews about them before revealing your account details.
- Promptly open bills and ensure they correspond with your purchases. You can also check your bills online as often as possible.
- Stop saving your receipts so you can compare them with your statements.
- Do not sign blank receipts. If you notice any blank space, make sure you draw a line to prevent someone from adding another item to bloat the total.
- If you notice questionable charges on your card, report the matter to your issuer immediately.
- Avoid writing account numbers on the outer flaps of envelopes.
Your vacation, study, or general life in Norway can be made easy and enjoyable when you get a kredittkort. We discussed the benefits you will enjoy from using it. Also, we shared tips that will help you secure your account from scammers. Fortunately, kredittkort issuers now offer virtual cards, which are quite secure.
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